Industry
Policy Works Inc. and SGI Canada have enabled straight-through processing of commercial lines data between a desktop application and an insurer’s underwriting system. Policy Works v2010.1 is the first mechanism to achieve this, a Policy Works release says.Brokers are able to send submissions to, and receive quotations from, SGI Canada’s underwriting system directly without ever […]
By Canadian Underwriter | November 12, 2010
1 min read
Parliament has passed new legislation aimed at getting tougher on auto theft and trafficking in stolen property such as cars.The legislation is expected to receive Royal Assent imminently.”Auto theft costs Canadians over $1 billion each year and helps make organized crime profitable,” federal justice minister Rob Nicholson said in a press release announcing the passage […]
By Canadian Underwriter | November 11, 2010
2 min read
Ontario’s Ministry of Transportation (MOT) is implementing an electronic verification system that will provide on-the-spot confirmation of insurance when drivers go to renew their licence plate.The Uninsured Vehicles Project (UVP) comes into effect on Nov. 29. It’s a joint initiative between the Ontario government and the Insurance Bureau of Canada to allow verification of mandatory […]
Katherine A. Mabe will succeed Noel Walpole as president and CEO of The Economical Insurance Group (TEIG). She starts at The Group on Nov. 15, 2010. Prior to accepting her role at TEIG, Mabe was president of the specialty products division of Nationwide Insurance Company of America. In addition, she was president and CEO of […]
By Canadian Underwriter | November 10, 2010
Eight Canadian securities regulators are cooperating with the China Insurance Regulatory Commission (CIRC) to regulate Chinese insurance firms’ overseas investments in Canadian firms and recognized markets.The CIRC is authorized by the Chinese State Council to conduct administration, supervision and regulation of the Chinese insurance market, and to ensure that the insurance industry operates in compliance […]
Chesterfield Canada Inc., a specialist independent wholesale broker, is expanding its presence across Canada.The Lloyd’s broker has applied for and successfully obtained licenses to offer its wholesale products in Alberta and British Columbia.”We are very pleased that the regulatory authorities in both Alberta and British Columbia have seen fit to award us their licences to […]
Aftermarket replacement parts need to be reverse engineered to match the original equipment manufacturer’s specifications, not re-engineered, an Insurance Institute for Highway Safety (IIHS) report says.The Certified Automotive Parts Association (CAPA) recently released a certification standard, CAPA 501, for aftermarket bumpers, IIHS reported.The aim of the standard is to ensure that aftermarket copies match the […]
EGI Financial Holdings reported a net income of $779,000 for 2010 Q3, marking a 65.5% decrease over its $2.3-million profit in 2009 Q3.During the quarter, EGI reported an underwriting loss of $2.9 million, a large decline from the underwriting profit of $284,000 reported in 2009 Q3. The insurer attributed the loss primarily to high claims […]
By Canadian Underwriter | November 9, 2010
Auto insurance quotes from Alberta Motor Association (AMA) Insurance are now available through Kanetix.ca to Alberta drivers.Kanetix.ca is a free online service allowing consumers to compare auto insurance quotes from a variety of insurers.”Kanetix is excited at the opportunity to introduce our shoppers to AMA Insurance,” said George Small, co-founder of kanetix.ca. “AMA Insurance complements […]
New Brunswick is officially pressing ahead with its promised review of the province’s $2,500 cap on minor auto injuries, with a task force expected to engage in public consultation and then issue a report sometime around May 2011.The working group will carry out its review and conduct consultations in two specific areas:• the adequacy of […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
